Tue. Jul 27th, 2021
    Litecoin, Free TON House, Wiki

    Litecoin (litecoin.com) is a bitcoin fork (based on its source code) a global decentralized p2p payment network, with the LTC currency of the same name.

    The lightness of the network allows transactions to be confirmed four times faster than in the Bitcoin blockchain. At the same time, both platforms use the Proof-of-Work consensus algorithm.

    Another distinctive feature of Litecoin is the use of Segregated Witness (SegWit) technology. It allows you to change the block size limit by removing the signature data from the transaction. Incidentally, the SegWit soft fork was originally designed to increase the throughput of the Bitcoin network. 

    As a result, the block size in the Litecoin network has doubled. According to experts, the update made the adaptation better compared to bitcoin and prepared LTC for the introduction of Lightning Network technology, which allows sending coins without paying commissions.